Vestech Securities, Inc., a St. Louis-based independent broker-dealer, and Vestech Asset Management, a state-registered investment advisor, have chosen Entreda to provide their advisors and employees with network protection under Entreda's industy-leading cybersecurity compliance software and solutions.
Vestech Securities' choice of Entreda to monitor and remediate cybersecurity risks demonstrates how the market vendor's proven track record in protecting businesses continues to solidify Entreda's reputation for best-in-class cyber risk management, backed by a deep understanding of regulatory standards. Vestech will have access to Unify's network vulnerability assessment and penetration testing, vendor due diligence, and cybersecurity threat mitigation solutions as a consequence of the arrangement, as well as the advantages of Entreda's dedication to service excellence.
"The rising threat of network breaches across industries have prompted wealth management firms to increase and enhance protection measures. Companies understand advisors cannot serve the best interests of their clients, or invest their money with confidence, without a platform that eliminates cyber risks or have in place a vendor risk assessment process. Entreda's relentless focus on network security, the capability of its end-to-end platform to give a full report on the cybersecurity of any users who access company data, help wealth managers guard against system vulnerabilities."
Sid Yenamandra, CEO and founder of Entreda, a subsidiary of Smarsh Company
John Huang, president of Vestech Securities, said, "As a firm dedicated to help growing the practices of independent financial advisors, Vestech understands the importance of protecting investment professionals, their valuable business, and their clients. Widespread vulnerability to cyberattacks looms large in the wealth management industry, and Entreda's Unify platform provides the tools we need for continuous monitoring and adjustment, to detect issues at the earliest stages and address them quickly."
Marco Ramirez, Vestech's Chief Compliance Officer, stated, "When we set out to identify a vendor of cybersecurity services, we wanted a company that understood our culture of integrity and achieving industry best practices. Entreda's highly regarded Unify platform, with its stellar ratings from other firms, was the most obvious choice. We are pleased to take cybersecurity to the next level on behalf of our independent advisors and the clients they serve."
The Unify platform provides continuous network and endpoint monitoring for all network PCs and other devices for wealth management and insurance corporate customers. Entreda's unique Cyber Risk Number, a rating system that assesses individuals' and organizations' cybersecurity postures, as well as Entreda's industry-leading auto-remediation, make up the platform. It also offers real-time network vulnerability assessment, cyber awareness and anti-phishing training, as well as third-party vendor cyber due diligence.
As per the T3 Inside Information Advisor Software Survey for 2021, Entreda has a 14 percent market share for cybersecurity resources, which is more than four times its nearest rival in the financial advising field.
Vestech's management team hired Entreda because they needed a firm that was familiar with FINRA standards. Entreda is included in FINRA's vendor registry.